Posted: 8/17/2011 6:34:18 AM EDT
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Fixing the tax code
An interesting idea. Greatly simplifies the existing tax code with three brackets... 10% to $35,600; 20% to $93,800, 30% after that. No deductions, no additional payroll taxes, no "hidden" taxes supposedly on employers, etc. Also, everyone pays something, and nobody can get a "refund" that exceeds anything they paid, which I've been harping on for a while now. Even though I'm philosophically opposed to income taxes (why penalize success?), most Americans want that, as it seems more "fair". This idea sounds, at first read, like a fantastic improvement upon our current system. Discuss. |
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Why no refund?
I wouldn't mind see us do away with payroll withholdings. If you are retired or a business owner, you pay quarterly payments and wow, that really is effective in pounding home how much you pay in taxes. edit - oh and you need the William F Buckely quote: "I would like to electrocute everyone who uses the word "fair" in connection with income tax policies. " |
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I'm still completely at a loss why people think those who are successful "owe" more to the .gov in taxes than those who use all of the programs the .gov spends its money on.
It just doesn't make any fucking sense to me at all. Fuck progressive taxes. Institute a consumptoin tax and stop penalizing success. Hell, I'd accept a flat rate percentage, grudgingly. |
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Quoted:
Fixing the tax code An interesting idea. Greatly simplifies the existing tax code with three brackets... 10% to $35,600; 20% to $93,800, 30% after that. No deductions, no additional payroll taxes, no "hidden" taxes supposedly on employers, etc. Also, everyone pays something, and nobody can get a "refund" that exceeds anything they paid, which I've been harping on for a while now. Even though I'm philosophically opposed to income taxes (why penalize success?), most Americans want that, as it seems more "fair". This idea sounds, at first read, like a fantastic improvement upon our current system. Discuss. I'd much rather a flat tax. There is nothing "progressive" about a tax that punishes you for being productive. |
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Quoted:
I'm still completely at a loss why people think those who are successful "owe" more to the .gov in taxes than those who use all of the programs the .gov spends its money on. It just doesn't make any fucking sense to me at all. Fuck progressive taxes. Institute a consumptoin tax and stop penalizing success. Hell, I'd accept a flat rate percentage, grudgingly. This is the most likely reform I can see happening. |
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Quoted: from each according to their ability to each according to their need.I'm still completely at a loss why people think those who are successful "owe" more to the .gov in taxes than those who use all of the programs the .gov spends its money on. It just doesn't make any fucking sense to me at all. Fuck progressive taxes. Institute a consumptoin tax and stop penalizing success. Hell, I'd accept a flat rate percentage, grudgingly. |
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Quoted:
Why no refund? My answer to that would be, "Because refunds / credits / exemptions creates a rats nest of loopholes that allow some to pay nothing, others to receive more than they paid, and for the rest to wind up shouldering more of the burden." Further, refunds and credits basically amount to subsidies... if you engage in this government-approved behavior, you get money. If you don't, you don't. That gets dangerous, fast... look at what the mania to 'stimulate home ownership" led to. Besides, it's simple. You know exactly how much you're paying. There are no surprises. No mountains of paperwork. And if it winds up that we pay "too much"... good! That means we raise holy hell. As it is today, we pay too much... but a lot of it is hidden. We never see the 6.2% of our salary that gets taxed away as "the employers share" of SS. We pay higher prices for our goods and services, not immediately realizing that we're buying the product and paying a bunch of invisible taxes on it. |
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Quoted:
Quoted:
I'm still completely at a loss why people think those who are successful "owe" more to the .gov in taxes than those who use all of the programs the .gov spends its money on. It just doesn't make any fucking sense to me at all. Fuck progressive taxes. Institute a consumptoin tax and stop penalizing success. Hell, I'd accept a flat rate percentage, grudgingly. This is the most likely reform I can see happening. I doubt it'll ever happen, if for no other reason than the majority of Americans who believe that if they're paying the same rate as "the rich", they take that to mean they're paying part of "the rich's" share for them. Defies comprehension, I know, but too many people are programmed to accept a progressive tax scale. It'll take a long time to undo the ingrained entitlement mentality. |
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Quoted:
I'm still completely at a loss why people think those who are successful "owe" more to the .gov in taxes than those who use all of the programs the .gov spends its money on. It just doesn't make any fucking sense to me at all. Fuck progressive taxes. Institute a consumptoin tax and stop penalizing success. Hell, I'd accept a flat rate percentage, grudgingly. I feel the same way. In fact, I am preparing to write an opinion piece on the subject of the "super rich" and the taxes they pay. |
